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. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> let's get you caught up on some of the other stories we're following. isha is here with the "360" bulletin. >>> day two of the steubenville, ohio rape trial wrapped up a little while ago. two high school football players are accused of raping a 16-year-old girl last summer. now, much of the case is focused on cell phone pictures of the alleged abuse that were circulated in text messages and on social media. >>> hundreds of volunteers and police are searching for a new orleans teacher who vanished almost two weeks ago. the 26-year-old was last seen at a bar celebrating her teacher of the year nomination. >>> anderson, another carnival cruise gone wrong. the company is flying passengers on the "dream" ship back to florida. the ship's generators failed yesterday while it was docked in the caribbean. all the lights went out. some of the toilets stopped working and no one was allowed onshore. you know folks on that ship went not again. >> unbelievable.
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> let's get you caught up on some of the other stories we're following. isha is here with the "360" bulletin. >>> day two of the steubenville, ohio rape trial wrapped up a little while ago. two high school football players are accused of raping a 16-year-old girl last summer. now, much of the case is focused on cell phone pictures of the...
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Mar 19, 2013
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causing the economy to get dinged, stock prices get slammed. people freaking about all this almost nonstop. freak out from cyprus. even as i think it's a silly reason, frankly, to be afraid. i told you i would trust ben bernanke again. he's committed to keeping rates low until it's 6.5%, pretty far away from where we are. i explained why you shouldn't let something that has to happen scare you out of high-quality stocks. and as they come down, i want to start getting more positive. i stated that the rates will go higher. it will be because things are getting better. so i think they are. but bernanke will try to keep the rates low as long as he can. you know what, though, while i think the financial stock charts are showing you rates are about to shoot up big, bond technicians may disagree. i would like to have all sides here. how about we take a more empirical look at the issue. if the fed really is about to stop its bond buying you know what's going to happen first, right, first and foremost. bond prices get hammered, particularly u.s. treasur
causing the economy to get dinged, stock prices get slammed. people freaking about all this almost nonstop. freak out from cyprus. even as i think it's a silly reason, frankly, to be afraid. i told you i would trust ben bernanke again. he's committed to keeping rates low until it's 6.5%, pretty far away from where we are. i explained why you shouldn't let something that has to happen scare you out of high-quality stocks. and as they come down, i want to start getting more positive. i stated...
all of this is good for the musicians, the economy, great for the audience fo
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Mar 13, 2013
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the economy is getting better. i think we have good traction in the economy right now. we'll see better economic growth than we have seen in the past. the market is reacting to some of that and not without risk from what's going to happen with monetary policy going forward and other concerns. but to run a government like this of $3.6 trillion that many depend on and look to for direction, this isn't the way to do it. we need to find a way to fix it and i'm just not optimistic that we can do that in the very near term. i think it's going to take, you know, two, four, six years to get to a point where we can clear up some of the issues that we're dealing with on tax policy and on our long-term spending priorities. >> even as those long-term issues worsen during that period of time. we'll have to leave it there. gentlemen, thank you both. great to see you both this morning. president obama will meet with a group of ceos at the white house today to discuss ways to improve cybersecurity. the president will solicit input on how the government and private sector can best work
the economy is getting better. i think we have good traction in the economy right now. we'll see better economic growth than we have seen in the past. the market is reacting to some of that and not without risk from what's going to happen with monetary policy going forward and other concerns. but to run a government like this of $3.6 trillion that many depend on and look to for direction, this isn't the way to do it. we need to find a way to fix it and i'm just not optimistic that we can do...
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Mar 20, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. britta olsen is my patient. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window so the soul can depart." i smiled and squeezed her hand. "not tonight, britta. not tonight." [ female announcer ] to nurses everywhere, thank you, from johnson & johnson. >>> it was supposed to be one of his biggest speeches of the year but then this happened. what the mayor of kansas city did when somebody bum rushed the stage. up next on "360." ion of lobster entrees, like lobster lover's dream or new grilled lobster and lobster tacos. come in now and sea food d
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. britta olsen is my patient. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night...
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Mar 19, 2013
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i don't think they've seen enough evidence yet that the economy's firm. and thus ready to pull back. >> when you look at what the fed, very different thing. if you look at what he's likely to do as he goes i guess through the rest of the year and potentially retire, do you think he starts to get positive on the economy just because he wants to say i told you so? >> no. that's not the way he works. what you have now is really a bifurcated economy. growth in the first quarter isn't that bad. private sector employment has gone over 200,000, so that seems to be picking up steam, but at the same time, fiscal policy the tightening and could hold growth back. i don't think he feels any need to beat his chest at this point. >> at the same time, we had a flurry of wall street firms revise their gdp estimates for the quarter. based on that surprise retail sales numbers. >> they're going to be updating their forecasts and i think they're going to be in the two directions. they should be more upbeat about the private sector growth and that creates an upward pull on g
i don't think they've seen enough evidence yet that the economy's firm. and thus ready to pull back. >> when you look at what the fed, very different thing. if you look at what he's likely to do as he goes i guess through the rest of the year and potentially retire, do you think he starts to get positive on the economy just because he wants to say i told you so? >> no. that's not the way he works. what you have now is really a bifurcated economy. growth in the first quarter isn't...
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Mar 21, 2013
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what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if there's any correction, it's not going to be as big as the last few years. the fiscal fights are over in washington. less fear of double dip in the u.s. less worries about europe breaking up, cyprus notwithstanding, or china hardlining. so we would see it as a buying opportunity. >> so what do you want to do, then? should you be taking profits on some of those names you've made money on already? how do you look at a market that you're still bullish on, but are getting a little nervous because of evaluations? >> i can't time this correction. >> right, you don't want
what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if...
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Mar 20, 2013
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i am cautiously optimistic about the economy. it seems as if, despite the unemployment, despite the debt, that consumers are spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. having said that, i think one has to be incredibly concerned about the fragile nature of western europe, what's happening in cyprus, and other geopolitical issues that ultimately affect the united states. >> what about the minimum wage in this country, howard? is $7.25 enough. lots of pushes to take that up to $9, as president obama has talked about. the average starbucks barista, according to glassdoor website, makes $8.78 an hour. >> well, that's a little misleading, but i'll come back to that. you know, i think the minimum wage issue is a double-edged sword. and what i would not want to see is the minimum wage go up and as a result of that, employers starting to hire less people or cutting people's hours. and you have to be very careful of the unintended consequences. on balance, i am a sup
i am cautiously optimistic about the economy. it seems as if, despite the unemployment, despite the debt, that consumers are spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. having said that, i think one has to be incredibly concerned about the fragile nature of western europe, what's happening in cyprus, and other geopolitical issues that ultimately affect the united states. >> what about the minimum wage in this country,...
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Mar 21, 2013
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he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not coming down. britain was an experiment two years ago in rapid austerity. i think the markets here know what the country here in britain knows, it's failed. >> they did come out saying business applauded measures yesterday, which i'm sure he would also applaud. 32 pounds of national insurance. that's going to help job creation, cutting corporate tax rates again. infrastructure spending, he's done that, as well. there are very business friendly measures here and it's the private sector, after all, that's going to get the growth going in this country. >> look, the small busin
he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not...
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Mar 21, 2013
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it weakens those economies dramatically, weakens those countries. and it also weakens italy. >> you're saying potential contagion. finally, how does it get resolved? michelle is talking about a good bank/bad bank, nobody pays on deposits up to $100,000. the bailout is 10 billion euros from the european -- ecb. the bail-in is about $6 billion euros. so greece is looking for whatever they're looking for, $4 billion, $5 billion. or does europe bail that out even more? >> the biggest factor of all, dan and i were talking a couple minutes ago, the depositors above 100,000 will lose 40% to 50%. >> those are russians. they're going to be pissed off. >> the great systemic problem of giant bank failures is somewhat eliminated by what they're putting forward now. >> what do you think, dan? does this work? >> for our viewers i don't think it matters. the specifics are super interesting, we're going to go have a drink. what matters to people at home, what matters to the larger story is we decided that people's property in banks was not their own. >> in europe o
it weakens those economies dramatically, weakens those countries. and it also weakens italy. >> you're saying potential contagion. finally, how does it get resolved? michelle is talking about a good bank/bad bank, nobody pays on deposits up to $100,000. the bailout is 10 billion euros from the european -- ecb. the bail-in is about $6 billion euros. so greece is looking for whatever they're looking for, $4 billion, $5 billion. or does europe bail that out even more? >> the biggest...
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Mar 20, 2013
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economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initially we know that banks were going to be closed up until tomorrow but at this point there's a lot of speculation that banks will be closed up until tuesday because monday is another bank holiday and at this point it's very, very uncertain that we'll get a viable plan b to get the bailout deal in place at this point it doesn't look like we'll get it by tomorrow. at this point we are expecting that banks are going to be closed for a little bit longer. of cours
economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people...
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Mar 21, 2013
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economy. caterpillar, oracle, not just u.s. economy, but the global economy. europe is very, very weak. was going to happen in emerging markets, china, i think is questionable. so i just think there's a lot of question marks out there and the market is not pricing that in right now. >> no. that's a really good point. scott, i guess the federal reserve sees a lot of those question marks, too. they made the point that they don't want to get into a situation where they pullback too quickly because they don't want to see something that's unsustainable gains in the labor market. i guess that's the good news if anybody is waiting for anything is that the fed is still standing by. >> i think what the fed had to say is essentially bullish for everything in the world except for change. because they don't seem like they want to make any changes except for the news that mr. bernanke has now had a conversation with the president about his tenure. and it seems more likely than ever that his term will come to an end in january. unfortunately, it's going no be just about the
economy. caterpillar, oracle, not just u.s. economy, but the global economy. europe is very, very weak. was going to happen in emerging markets, china, i think is questionable. so i just think there's a lot of question marks out there and the market is not pricing that in right now. >> no. that's a really good point. scott, i guess the federal reserve sees a lot of those question marks, too. they made the point that they don't want to get into a situation where they pullback too quickly...
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Mar 14, 2013
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the real irony is if the economy does get better, companies will do better and stocks can do better. but bonds, they will almost always do worse. always. i can't think of a single situation where you could own bonds right now, regardless of your age or risk profile. owning a dangerous long-term bond, with that budget deficit we have, come on. i have -- you buy that stuff at 130 versus 100, and first okay, johnson & johnson, common stock with good dividend, and it makes no sense to me, bernanke bashers tell people to sell their bonds. get everyone to sell long-term bond funds, but unless they wise up, these bears will be the enemy of your personal wealth. they have kept you from taking that opportunity and they have no humility and no remorse. nothing. no gain at all. they simply don't think this rally counts. they don't think it matters. and that you couldn't have made any money, and they think that these gains are ill gotten. here is my bottom line. ill gotten gains are gains that are stolen exappropriated or booted. these stock markets gains are totally legitimate, accepted at the
the real irony is if the economy does get better, companies will do better and stocks can do better. but bonds, they will almost always do worse. always. i can't think of a single situation where you could own bonds right now, regardless of your age or risk profile. owning a dangerous long-term bond, with that budget deficit we have, come on. i have -- you buy that stuff at 130 versus 100, and first okay, johnson & johnson, common stock with good dividend, and it makes no sense to me,...
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Mar 19, 2013
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the big policy shift or abe-onomics is giving aus view of the japanese economy. we think that the current stance and the shift at the boj with the new governor taking place later this week is clearly the best opportunity japan has had in the last 15 years to get rid of deflation and i think in that sense we are staying with the market momentum which is very constructive on japan. that is our biggest overweight. >> regional equities. >> we'll leave it there. valentin, appreciate your time today. >> i had mentioned as well the u.s. stocks. here is a look at futures. we saw it in cypriot banks, cypriot stocks reopen not happening. they will be staying closed until at least thursday. largely looking down on the dow by 14 points. the nasdaq and the s&p pointing higher when it did emerge that cypress wouldn't be voting and not approving the terms of the bailout last night. we're still waiting for the final confirmation on the timing of that vote. not so much market nervousness here. the ftse cnbc global 300 is down by 0.1%. as we look at major european markets, the fts
the big policy shift or abe-onomics is giving aus view of the japanese economy. we think that the current stance and the shift at the boj with the new governor taking place later this week is clearly the best opportunity japan has had in the last 15 years to get rid of deflation and i think in that sense we are staying with the market momentum which is very constructive on japan. that is our biggest overweight. >> regional equities. >> we'll leave it there. valentin, appreciate your...
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Mar 15, 2013
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people with these falsely low interest rates, i think, are actually hurting the economy now. if we bought time for the restructuring of the economy, but the government's hindering restructuring. >> michael? >> i think that john certainly makes sense. and these short-term calls are always dicey. but if you're going to say which direction the most likely next 500 points is, i'm going to say stick with the trend and it's going higher. not necessarily, as john has said, for good reasons. i mean, i remember, there was this pretty girl in high school who said she'd go out with me one night, only because if she stayed home, her mother was going to yell at her. true story! >> come on, she was -- >> no, that's a true story. >> she wasn't telling you the trut truth. >> sometimes you can end up in a good place for not the best reasons. >> no one prettier than maria. >> we're going to leave it right there. i've had enough. >> i had fun with that, michael. you're a sport. you're a sport, michael. we'll see you soon, guys. >> happy holidays. look at this. see the market? >> coming back! >>
people with these falsely low interest rates, i think, are actually hurting the economy now. if we bought time for the restructuring of the economy, but the government's hindering restructuring. >> michael? >> i think that john certainly makes sense. and these short-term calls are always dicey. but if you're going to say which direction the most likely next 500 points is, i'm going to say stick with the trend and it's going higher. not necessarily, as john has said, for good...
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Mar 20, 2013
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and global economy. they are doing it, we are seeing them succeed in a lot of different ways. the productivity story is good. that is where elevating standard of living comes from. that is -- we are looking at more confidence going forward now. >> and the dycotomi has been that the smaller businesses have not been able to do that. >> we have to stop picking on them. >> mike and tony will stay with us. situation in cyprus is as dicey as ever. question, will russia come to the rescue? will the banks there ever reopen? and will it stay in the eu? we've reports from moscow and cyprus, coming up next, please stay with us. >> situation in cyprus getting worse today, banks will not open until next week at the he earliest. good evening michelle. >> larry, another day, another attempt to try to come up with a rescue plan for cyprus, today cyprus suggested that they would try to raid a pension fund, and promise to pay the workers down the road. but that idea was not liked. additionally they are trying get money fr
and global economy. they are doing it, we are seeing them succeed in a lot of different ways. the productivity story is good. that is where elevating standard of living comes from. that is -- we are looking at more confidence going forward now. >> and the dycotomi has been that the smaller businesses have not been able to do that. >> we have to stop picking on them. >> mike and tony will stay with us. situation in cyprus is as dicey as ever. question, will russia come to the...
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Mar 18, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to the program. european markets are start to go drift lower again. the ftse mib is down 2%. the dax in germany holding up better. the ftse 1100, too. fwank stocks mostly taking it on the chin, though. whether we're talking about spain where bbva is down 3.7%, banco santander down 3%. it looks as though declines in the banks are leading this next leg lower. here is a quick look at what's on this week's agenda as we turn our attention to the u.s. the national association of home builders releases its march index today. the pboc meeting starts tuesday with tons of data for thursday including manufacturing index for march, the philly fed survey and is leading economic indicators. with all that to run throu
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to the program. european markets are start to go drift lower again. the ftse mib is down 2%. the dax in germany holding up better....
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Mar 21, 2013
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president has been silent since saying the budget sequester will produce very big lay-offs and a weakened economy. he's got radio silent. we know next week that will be the week when the president will most likely use his podium to talk about how horrible sequestration will be because it kicks in at the end of the month. perhaps the excellent jobless numbers we got this morning will be the last good one if it's as bad as obama scares us into thinking it is. local and state governments are cutting back. that's not positive. finally, there is this misquarter evidence. federal express did blow up. it's not a good number. caterpillar is down 12%, retail sales number might not translate into weak earnings. i was prepared for cat sales to be flat, maybe up a little, not down double digits. then oracle. while oracle almost always bounces back, making my chartible stock to want to buy more, i have to believe the m e macroenvironment has gotten worse than we thought. oracle is not that bad a company. you i don't want to get too negative either what could be right? while i don't expect a grand bargain in w
president has been silent since saying the budget sequester will produce very big lay-offs and a weakened economy. he's got radio silent. we know next week that will be the week when the president will most likely use his podium to talk about how horrible sequestration will be because it kicks in at the end of the month. perhaps the excellent jobless numbers we got this morning will be the last good one if it's as bad as obama scares us into thinking it is. local and state governments are...
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Mar 18, 2013
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was muted because the economy in the u.s. is pretty good and because it's still viewed as a safe haven. look what happened to the dollar. we can't continue to have question marks about confidence in an area of the world that's fragile and expect risk asset rallies including equity market to rally. >> european banks, they got hurt. they were down 3.5% to 4%. american banks were not. bank index was down less than 1%. i want to ask you though. given what dallara said, how do you assess the risk of this whole story? it seems small. a nothing little island. how do you see it? >> the last four years have been dedicated looking at risks globally. in my book i talk about the destruction lehman cauause overseas. now it's the reverse. the last three years we had elevator shaft drops in the u.s. stock market. at the end of the first quarter, beginning of the second quarter, 16%, 20% and 10%. each time there was credit spread contagion from europe. a sovereign problem that led to a bank problem. then that weakness led to u.s. credit spre
was muted because the economy in the u.s. is pretty good and because it's still viewed as a safe haven. look what happened to the dollar. we can't continue to have question marks about confidence in an area of the world that's fragile and expect risk asset rallies including equity market to rally. >> european banks, they got hurt. they were down 3.5% to 4%. american banks were not. bank index was down less than 1%. i want to ask you though. given what dallara said, how do you assess the...
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Mar 21, 2013
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economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just setting up my twitter. since then the media giant has become a staple for millions. it has transformed the way people communicate so what could twitter do in the next seven years? tweet us @squawkstreet. >>> the market is accelerating downward, now down 67 points. let's get a "market flash" from josh back at hq. >> juniper networks is under pressure this morning. analysts at fbr not fans saying we are the end of an era as routers and switches are set to decline. fbr downgrades juniper and cisco toeon perform. the company's fbr sa
economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just...
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Mar 18, 2013
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they never balance. >> and which plan are you referring to. >> if the economy were growing at 5%, 6%, as it has in the past. >> you can't have government spending at 25%. >> megyn: hold on. >> you're going to see the debt and deficit dwindle massively. let's talk about the contest in which dr. carson were speaking, if were talking about the debt and the policy prescriptions of the democrats and the obama administration then he needs to present a counter argument. he needs to present a vision for america that goes against that and he's fnot doing that, he's condemning and criticizing the president's motives, and by insinuation. >> that's absolutely not true. and in fact-- >> disrespectful for the office. >> first of all, he's not run for office. he's not doing this to seek political power, he loves this country. and number one. number two, you mentioned the debt, megyn, this president by the time he leaves office and reelected and we can all agree it that would have added more to the debt than all of his predecessors, including the much maligned george w. bush combined. he had no pro g
they never balance. >> and which plan are you referring to. >> if the economy were growing at 5%, 6%, as it has in the past. >> you can't have government spending at 25%. >> megyn: hold on. >> you're going to see the debt and deficit dwindle massively. let's talk about the contest in which dr. carson were speaking, if were talking about the debt and the policy prescriptions of the democrats and the obama administration then he needs to present a counter argument....
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Mar 19, 2013
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i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to presen
i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to...
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, so the debt is not growing faster than the economy. the realistic goal that both sides are pointing at now. >> maria. >> i sleetly agree with ron. it is an i hadisticly a good idea. i completely agree with the president, but instead of doing it just for the sake of doing it. you look at a family and things that families need to get done, and a family in debt, they could balance their budget in a minute if they decide not to send their kids to college or not to give their grandparents the health care they need. is that smart? absolutely not. we need to do it with the focus on the future. making sure the middle class is educated, healthy and robust. >>> ending gun violence in america through higher taxes? the idea behind a house democratic bill led by linda sanchez. it calls for an additional 10% tax on sales of concealable firearms with the extra money going to fund gun buybacks and safety programs. supporters say it would get unwanted guns off the streets. critics say it's punishes law abiding gun owners. our question, will raising tax
, so the debt is not growing faster than the economy. the realistic goal that both sides are pointing at now. >> maria. >> i sleetly agree with ron. it is an i hadisticly a good idea. i completely agree with the president, but instead of doing it just for the sake of doing it. you look at a family and things that families need to get done, and a family in debt, they could balance their budget in a minute if they decide not to send their kids to college or not to give their...
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Mar 18, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off about 16 points. making headlines this morning, beyond cyprus, airbus is landing a record order of jets from indonesia's lion air. the deal is for $24 billion for 234 planes. also today, president obama is going to be nominating thomas perez to head the labor department. >> we wondered. >> an airplane guy. >> if we were going to pull back, we wondered where it was going to come from. but this doesn't change that we're still -- the dollar has been thrown away, the best house in the neighborhood, things here are still going better. so the question is, does europe still have the -- >>
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off...
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Mar 21, 2013
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you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow gained 56 points. the s&p rising today, nasdaq jumping .78%. it's not sleight of hand or alchemy at work here, despite what critics say when they constantly slam the fed. >> boo! >> bernanke is not playing a game of move the stock market higher by simply continuing to keep the competition from bonds incredibly weak. he's got a real good reason for doing what he's doing, which is staying the course, keeping rates low. that reason? 1937. see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american finan
you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow...
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Mar 18, 2013
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economy. and, where hyes, they're in ver shape. they're generally optimistic about their revenue outlook. they tend to have a lot of cash on their balance sheets. they are genuinely concerned about the health care costs, taxes, and regulatory environment. that's the primary reason they don't hire more people. but their businesses are actually doing fine. >> john, i know i asked you this the last time. believe me. it's just that every time you leave then we hear more reports of wells fargo is trying to acquire cit. t.d. bank. has the price not been right? >> well, i really think you need to get wells fargo or t.d. on your show and ask them that question. >> all right. let me ask you about something that i know is near and dear to your heart. the new york stock exchange. what's your take, john, at the deal to acquire n -- he told me last week he's going to spin out some of the european exchanges. as you know he's got five european exchanges that he's going to try to ipo. >> even when i was at the new york stock exchange, the combinat
economy. and, where hyes, they're in ver shape. they're generally optimistic about their revenue outlook. they tend to have a lot of cash on their balance sheets. they are genuinely concerned about the health care costs, taxes, and regulatory environment. that's the primary reason they don't hire more people. but their businesses are actually doing fine. >> john, i know i asked you this the last time. believe me. it's just that every time you leave then we hear more reports of wells fargo...
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Mar 14, 2013
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they did lower their inflation rate, express concern about the economy. i was surprised that the market is buying euro/swiss on this. we feel that euro/swiss is going to head out, that they are very concerned. the actual statement didn't break any new grounds, but i guess the vigor with which they reiterated their desire to defend the floor influenced some people in the market. >> don't they just love a central bank to come -- i know the message has been here. in some points, the swiss bank is benefiting more from the fact that people seem more willing to take a risk with the euro as opposed to chooting to fight it on the floor at this point. >> i think so. it's interesting with respect to the italian election that even though this considerable uncertainty doesn't seem to be showing up in terms of the sorts of tail risk factors that were taking the euro down last year. so i think that the snb is benefiting from that. they do have a lot of credibility and they indicate that they will use opportunities to push euro/swiss up. and i think that the market is m
they did lower their inflation rate, express concern about the economy. i was surprised that the market is buying euro/swiss on this. we feel that euro/swiss is going to head out, that they are very concerned. the actual statement didn't break any new grounds, but i guess the vigor with which they reiterated their desire to defend the floor influenced some people in the market. >> don't they just love a central bank to come -- i know the message has been here. in some points, the swiss...
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Mar 15, 2013
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if the economy continues to grow, and it looks like with the retail sales that the economy is picking up speed notwithstanding this payroll increase. >> you're not just talking a fed-fueled rally. >> the fed is certainly helpful in this regard. what's odd is the fed is pegging interest rates at negative real returns. yet people still pour money into that pause they're still fearful -- they're worried about 2008, europe, china, whatever they're worried about. >> how much credit do we give to the fed for the weight effect, therefore making the economy is better and you say the economy is going to do okay on its own. >> the fed has basically offset the drop in velocity. if they hadn't done that i think we would have had a possession. what they're doing is basically trying to hold the finger of the dike against the catastrophe and they have done a good job of it. >> we have had three federal reserves around the world cranking out money. we have ecb, our fed, japan conducting what people are considered the greatest economic experiment in the history of modern world. when we look at all tha
if the economy continues to grow, and it looks like with the retail sales that the economy is picking up speed notwithstanding this payroll increase. >> you're not just talking a fed-fueled rally. >> the fed is certainly helpful in this regard. what's odd is the fed is pegging interest rates at negative real returns. yet people still pour money into that pause they're still fearful -- they're worried about 2008, europe, china, whatever they're worried about. >> how much credit...
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Mar 19, 2013
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economy our main problem is nobody is really talking about job creation. that the biggest threat that we're facing to the future is the fact that we still have really 25 million people unemployed or underemployed. that's a much more serious problem. >> the fed is talking about it. >> washington is not focused on it. and the whole sequester debate, the real crisis is the jobs crisis. ironically when people leave office they begin to talk about it. like samuels. he's been talking more about the fastest way to reduce the deficit is to grow the economy. >> right. arianna is going to be sticking around. we'll continue this conversation after a short break. >> coming up, mindful leadership. today's corporate leaders will try to increase innovation, productivity and wellness among employees. and money madness is here. we're looking at some of the most widely held stocks and letting you know which will come out at the end of the year. and two mobile giants. "squawk box" will be right back. [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ a
economy our main problem is nobody is really talking about job creation. that the biggest threat that we're facing to the future is the fact that we still have really 25 million people unemployed or underemployed. that's a much more serious problem. >> the fed is talking about it. >> washington is not focused on it. and the whole sequester debate, the real crisis is the jobs crisis. ironically when people leave office they begin to talk about it. like samuels. he's been talking more...
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economy is resilient. with stocks at all-time highs, despite tepid economic growth, he says there's little sign of a bubble forming in markets. >> the analysis i've seen doesn't give me reason to be worried right now. and i think one of the lessons we learned from 2008, 2009, is that even when things are not a problem, we always have to ask those questions. we need to make sure that we have the transparency to see what's going on in firms and is markets. we need to have the regulatory tools to deal with problems as they develop. >> speaking of bubbles, i think alan greenspan will be on about 7:30 on u.s. "squawk box" in a couple of hours time. but this any case, lew says the strengthening u.s. dollar could undermine exports, it will continue to be the government's policy. >>> senate democrats are putting off any further votes on a bill to continue funding the u.s. government and avoid a possible shutdown at the end of the month. more than 1 is 00 proposed amendments are stalling the measure. the delay leav
economy is resilient. with stocks at all-time highs, despite tepid economic growth, he says there's little sign of a bubble forming in markets. >> the analysis i've seen doesn't give me reason to be worried right now. and i think one of the lessons we learned from 2008, 2009, is that even when things are not a problem, we always have to ask those questions. we need to make sure that we have the transparency to see what's going on in firms and is markets. we need to have the regulatory...
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Mar 13, 2013
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samsung unveiling its latest economy. we'll find out what's up for apple, and more. >> and up next, a new milestone. ] ♪ ♪ ♪ >>> the world's largest travel site tripadviser just hit a new milestone, 100 million reviews on its site on its 19 brands and counting. steve kaufner. welcome to the program, sir. it's nice to have you here. >> this 100 million mark has come and last year it was 100 million travelers who have been on your sites and now it's 100 million reviews and this time it's testament to the power of your relationship with facebook. >> facebook is certainly a part of it, but it's really a test am to the worldwide interest in reading reviews and opinions from so many of your fellow travelers. 100 million reviews and opinions and this is from a monthly user base of about 200 million folks visiting the tripadviser sites each and every month across the globe. >> yeah. just on the subject of facebook, that ipo obviously taught a lot of investors to obsess about monetizing mobile. you are very relaxed about mob
samsung unveiling its latest economy. we'll find out what's up for apple, and more. >> and up next, a new milestone. ] ♪ ♪ ♪ >>> the world's largest travel site tripadviser just hit a new milestone, 100 million reviews on its site on its 19 brands and counting. steve kaufner. welcome to the program, sir. it's nice to have you here. >> this 100 million mark has come and last year it was 100 million travelers who have been on your sites and now it's 100 million reviews...
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Mar 20, 2013
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the economy is improving. we get to the next problem with is building up the balance sheet in a way that will make it hard to tighten when they need to tighten. >> the fact is you're siding with santelli over me but in a more polite way. one of the keys to what you're saying and i have a counter to this, maybe let you say it which is that you think the issue of taking money away from savers by lowering interest rates is something that hurts the economy and consumer spending more than lower interest rates create spending and helps the economy. >> yes. because first of all if you look at consumer interest income and consumer interest expense, consumers actually have more interest bearing assets an they do interest bearing liabilities. the key is liabilities are fixed rate at this stage or most are because of fixed rate mortgages. if you allow interest rates to go up, you push more none inmon the consumer sector than your cost to consumer sector and older americans live off cds and if you push up the income more,
the economy is improving. we get to the next problem with is building up the balance sheet in a way that will make it hard to tighten when they need to tighten. >> the fact is you're siding with santelli over me but in a more polite way. one of the keys to what you're saying and i have a counter to this, maybe let you say it which is that you think the issue of taking money away from savers by lowering interest rates is something that hurts the economy and consumer spending more than...
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Mar 21, 2013
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they are such an integral part of what moves stuff in the economy. airlines are doing very well, but others are not. fedex, just an example of that. does that trouble you for the market here? >> yeah, it does trouble me. and going forward, we're going to watch those earnings closely, but you need a good transportation sector. we've had a nice little push, but now it seems to be getting a little weak. >> at the end of the day, $100 million for stocks for sale earlier. not a major number, but what are you expecting as we close out this day, down 86 points? does this get worse in the next minute? >> it could get a little worse. all the negative things considered, things aren't bad, down 80, 90 points at the end of the day. >> i'm going to go. we've got some numbers after the close. nike, we're waiting on, second hour of the "closing bell." see you tomorrow. alan, good to talk to you. >> you're skeptical on this rally? >> i am. >> is there a level that you need to get down to and you'll want to get back into this market again? >> you know, it is. it's fu
they are such an integral part of what moves stuff in the economy. airlines are doing very well, but others are not. fedex, just an example of that. does that trouble you for the market here? >> yeah, it does trouble me. and going forward, we're going to watch those earnings closely, but you need a good transportation sector. we've had a nice little push, but now it seems to be getting a little weak. >> at the end of the day, $100 million for stocks for sale earlier. not a major...
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economy. so i'm not concerned about the economy. so why am i concerned about the market? well, look. i think the market can take a breather. that's all i'm saying. a better entry point, which again, is all i'm saying. let me tell you though, why i think that you could get a better place to buy. just wait for it. first, as of today the dow has now been up for eight straight days. what does that mean? it means going forward we are due percentage-wise, statistically, to a defeat here. do you know that in the last dozen years we have never had a winning streak of longer than eight straight-up days? not once! not once, have we only had eight straight days, in the black five times before in the last 12 years. so not -- never had nine straight days. and only five times in the last twelve years. and only ten instances we were up seven days in a row. in those cases, a week after the streak was over, the market was only up half the time. and a month later the market was either flat or down 80% of the time. so right now the odds do not favor using tomorrow as a good entry point. oka
economy. so i'm not concerned about the economy. so why am i concerned about the market? well, look. i think the market can take a breather. that's all i'm saying. a better entry point, which again, is all i'm saying. let me tell you though, why i think that you could get a better place to buy. just wait for it. first, as of today the dow has now been up for eight straight days. what does that mean? it means going forward we are due percentage-wise, statistically, to a defeat here. do you know...
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Mar 21, 2013
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economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for answers, they're asking the question, where is the growth in the world today? emerging markets fbl under pressure after outperforming for more than a decade. as money comes out of u.s. stocks, it will find a home in places like mexico, where stocks are starting to show real strength as well. many think reforms there will be bullish for investors. and smart money may keep heading south for returns in brazil or colombia. that is not to say the buy in the dip for the u.s. markets won't continue. i believe it will. but with a 10% gain in stocks so fa
economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for...
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Mar 20, 2013
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but these two kind of the backbones of our economy. we have to keep our eyes and so many more of the transport stocks going forward. >> oracle now down about 7%. we'll get the updates from jon fortt later on in the show. ben bernanke, keeping the easy money and the rally for that matter going for now pushing the s&p 500 closer to an all-time high. let's get straight to the traders here. and dr. j. john najarian is also joining us here onset. we are points away from the s&p 500 hitting the all-time closing high. what's your guess on when that happens? >> if it weren't for oracle, it would have been early in the morning tomorrow. and even with oracle, i think the market still has enough gas, melissa to get past that. but to j.j.'s point and everyone on the desk, i agree there are some in the armor. not to push the market down, but to keep the fed in that tight box, that is exactly where the fed is. they're stuck, they can't get out of this now. if you were looking for an early exit, ain't happening, folks. not happening, not getting out
but these two kind of the backbones of our economy. we have to keep our eyes and so many more of the transport stocks going forward. >> oracle now down about 7%. we'll get the updates from jon fortt later on in the show. ben bernanke, keeping the easy money and the rally for that matter going for now pushing the s&p 500 closer to an all-time high. let's get straight to the traders here. and dr. j. john najarian is also joining us here onset. we are points away from the s&p 500...
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Mar 15, 2013
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the economy is getting stronger. we'll be right back. up next the question will be are the young gun libertarians taking the leadership role at cpac so far? we're going to talk about that with one under 35 elected leader from florida. stay with us, cpac story very interesting. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read a
the economy is getting stronger. we'll be right back. up next the question will be are the young gun libertarians taking the leadership role at cpac so far? we're going to talk about that with one under 35 elected leader from florida. stay with us, cpac story very interesting. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because...
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Mar 14, 2013
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in an economy is not ruined by debt alone. this is paul ryan's third budget and two years after his first, the fundamental fight over values has not changed. president obama outlined the contrast in 2011 with paul ryan in the audience. >> this vision is less about reducing the deficit than it is about changing the basic social contract in america. i don't think there's anything courageous about asking for sacrifice from those who can least afford it that's not a vision of the america i know. >> unfortunately republicans refuse to accept that america has already ruled on this issue. e.j. dion writes that the 2012 elections ought to have settled these issues, it takes nerve to dismiss the results of an election that ryan himself called a referendum. the ryan budgets are feeling like a cheap ripoff of "groundhog day." >> i think the american public decided not to watch the end of it in november. they sent a clear message that they wanted something different than this romney/ryan proposal. that hurts americans. >> joining us now f
in an economy is not ruined by debt alone. this is paul ryan's third budget and two years after his first, the fundamental fight over values has not changed. president obama outlined the contrast in 2011 with paul ryan in the audience. >> this vision is less about reducing the deficit than it is about changing the basic social contract in america. i don't think there's anything courageous about asking for sacrifice from those who can least afford it that's not a vision of the america i...
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Mar 18, 2013
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but i think the president is facing the priority of growing the economy and jobs, and that's where it should be. half of this year's deficit is attributable to people who are unemployed. if we can get people back to work, paying down the deficit. it's much better than an austerity budget. >> you're saying after two years things are definitely better now? >> things are definitely better now. the fiscal picture is brightening. things are brightening still. the last thing we want to do when the economy is poised to recover is throw another obstacle in the way. >> who are you calling for march madness? >> my team, stanford probably not having a shot. >> congressman schiff, thanks for stopping by. jim garrity says quote with st. patrick's hangovers and bracket fillings of march madness this isn't a productive day for our economy. with pantene. amazing pro-v formulas fight signs of damage for healthier, stronger, shinier hair. dare to take the pantene 5 signs challenge today. i took the dare. will you? pantene. daily moisture renewal. hair so healthy it shines. it fills you with energy... a
but i think the president is facing the priority of growing the economy and jobs, and that's where it should be. half of this year's deficit is attributable to people who are unemployed. if we can get people back to work, paying down the deficit. it's much better than an austerity budget. >> you're saying after two years things are definitely better now? >> things are definitely better now. the fiscal picture is brightening. things are brightening still. the last thing we want to do...
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Mar 14, 2013
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i think the economy's going to continue to do pretty well. we think that it could be on an underlying path of 3% in the second half of this year. maybe 2014 as a whole. that should support u.s. asset markets. >> what about the dollar? i mean, the dollar seems to be on the strengthening trend. can the stock market and the u.s. dollar go up at the same time? >> yeah. this is the real change in a way. we've got very used to the 2008 sort of 2011 experience. when the risk is on, the dollar is weak. u.s. investors pouring money into yen. and when the markets are weak, the dollar does well because foreign investors can't get financing for their dollar assets. that seems to be easing as an issue now. going back to how things used to be in the good old days when good data for the u.s. led to somewhat higher bond yields. and this tended to increase the value of the dollar. so we reckon the dollar will do well, especially against other industrialized currencies like sterling, the yen, swiss e, maybe even some of the popular but not doing very well smal
i think the economy's going to continue to do pretty well. we think that it could be on an underlying path of 3% in the second half of this year. maybe 2014 as a whole. that should support u.s. asset markets. >> what about the dollar? i mean, the dollar seems to be on the strengthening trend. can the stock market and the u.s. dollar go up at the same time? >> yeah. this is the real change in a way. we've got very used to the 2008 sort of 2011 experience. when the risk is on, the...
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Mar 21, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. i work for 47 different companies. well, technically i work for one. that company, the united states postal service®, works for thousands of home businesses. because at usps.com®, you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. now over to you charles???? sir charles' single miles card left him blacked out. he's coming to us from home. that's gotta be traveling. now instead of covering the final four, he's stuck covering fourth graders. brick! bobby is 1 for 36. mikey? he keeps taking these low-percentage shots. and julio? i don't know what julio's doing. next time get the
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. i work for 47 different companies. well, technically i work for one. that company, the united states postal service®, works for thousands of home...
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Mar 15, 2013
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. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. how we get there is not. we're americans. we work. we plan. ameriprise advisors can help you like they've helped millions of others. to help you retire your way, with confidence. ♪ that's what ameriprise financial does. that's what they can do with you. let's get to work. ameriprise financial. more within reach. >>> she could barely move. she was like a dead body. these are text messages sent by one of two high school football players who are accused of raping a 16-year-old girl who was so drunk she could barely move, allegedly assaulting her several times at several different end of summer parties. these boys are on trial now. 17-year-old trent mays and 16-year-old malik richmond. cnn's poppy harlow just came out of the courtroom. poppy, update us on how it's going today? >> reporter: actually, this is day three of this rape case in steubenville that has caught national attention, as you know. two very key witnesses for the prosecution. first for h
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. how we get there is not. we're americans. we work. we plan. ameriprise advisors can help you like they've helped millions of others. to help you retire your way, with confidence. ♪ that's what ameriprise financial does. that's what they can do with you. let's get to work. ameriprise financial. more within reach. >>> she could barely move. she was like a dead...
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are critical conversations going on today about this country's foreign policy, the direction of its economy, and the security of it is citizens. the president is in israel, where he delivered a major speech calling again for a two-state solution in the middle east. in congress, house republicans successfully parsed paul ryan's third budget blueprint, likely to never become law. >>> but we begin with a moment of deep frustration this week. after an assault weapons ban was dropped from senate legislation, while two top gun reform advocates continue to push for reform. in new york earlier today, vice president joe biden and new york city mayor michael bloomberg held a press conference with families of the sandy hook elementary school massacre. delivering a unified message to congress -- get some guts. >> it's time for the political establishment to show the courage your daughter showed. >> quite honestly, i'm really ashamed to see that congress doesn't have the guts to stand up and make a change and put a ban on these types of weapons and universal background checks. >> congress just has to ge
are critical conversations going on today about this country's foreign policy, the direction of its economy, and the security of it is citizens. the president is in israel, where he delivered a major speech calling again for a two-state solution in the middle east. in congress, house republicans successfully parsed paul ryan's third budget blueprint, likely to never become law. >>> but we begin with a moment of deep frustration this week. after an assault weapons ban was dropped from...
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this economy is moving in the right direction. >> james, let me ask you a question. i think to a certain degree -- look, blame can go around on both sides of the aisle. but two some degree there's a false equivalency that house democrats and house republicans are equal in their ideological position, right? i want to read a quote from ezra klein who has a great analysis of this. while the house progressives fantasy land no compromise effort, ryan's fantasy land no compromise effort is the official position of most every republican. house progressives don't need to learn how to compromise, but the house republicans do need to learn to compromise and there's not much evidence they're there yet. >> and if you read david brooks' column had in "the new york times," the big effort to equate that with the sort of mainstream position. the president has already said that he was open to cutting medicare. i don't know why. but he is. he's open to all of these things. and we just try to pretend like they don't happen. because after all, it's an either/or thing, maybe we need more
this economy is moving in the right direction. >> james, let me ask you a question. i think to a certain degree -- look, blame can go around on both sides of the aisle. but two some degree there's a false equivalency that house democrats and house republicans are equal in their ideological position, right? i want to read a quote from ezra klein who has a great analysis of this. while the house progressives fantasy land no compromise effort, ryan's fantasy land no compromise effort is the...
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i don't see an economy that's a world economy that is growing. it could generate easily 5% to 6% earnings growth given what we've cut to the bone in corporations. >> the economy has nothing to do with it stipes. we still aren't doing efficiencies put in place. earnings were supposed to stop growing and they have not stopped growing and we're still surprised on bounce and there's still an upward slope on forward earnings expectations and my guess is it will be more right in the multiple. >> because of europe, i think multiples are ephemeral things. they sort of come and go and it's what we think at any given time. earnings are earnings >> in terms of the sectors that will lead us to 2000. by the way, i'm curious, how often do you make projects that go so far and how often are they close to reality? >> i changed them by the time we get there. >> oh, good man. to be honest it's not that far. it's the end of next year and it's not a seven-year projection and we are pushing it to get there. it's a symbolic thing and we're trying to show that the marke
i don't see an economy that's a world economy that is growing. it could generate easily 5% to 6% earnings growth given what we've cut to the bone in corporations. >> the economy has nothing to do with it stipes. we still aren't doing efficiencies put in place. earnings were supposed to stop growing and they have not stopped growing and we're still surprised on bounce and there's still an upward slope on forward earnings expectations and my guess is it will be more right in the multiple....
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economy right now? >> also, two huge interviews still to come. meredith whitney tells us why she's very bullish on one of wall street's biggest banks and right now. and cit group chairman and ceo john thain reacts to the rumor that will not go away. namely that his company has been shopping for a suitor. john will try and lay those fears aside once again, those rumors. >> a look at where we stand as we approach this final stretch, final hour of the day. dow jones industrial down about 26 points. had been down 110. we are well off of the lows. nasdaq looks like this. also pretty volatile in the afternoon here. as you can see, it is down about five points at 3243. s&p 500 really similar move here. down five points. equities showing great resilience, pushing back from a triple digit loss today. will the crisis abroad keep the markets in jeopardy? >> you had to be named steve to be on the panel today for the most part. steven water from russell investments, steve sacks. steve liesman is with us. and then there's that guy santelli who joins us daily a
economy right now? >> also, two huge interviews still to come. meredith whitney tells us why she's very bullish on one of wall street's biggest banks and right now. and cit group chairman and ceo john thain reacts to the rumor that will not go away. namely that his company has been shopping for a suitor. john will try and lay those fears aside once again, those rumors. >> a look at where we stand as we approach this final stretch, final hour of the day. dow jones industrial down...
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five years, not be able to get a budget done on time, really tells us that he has no interest in our economy, he has no real interest in straightening out our budget problems. i don't know what his priorities are, but they certainly aren't straightening out the tremendous debt that we've accumulated under his presidency. >> greta: and the senate should note that other presidents should know that other presidents have been late, but this is the first time the president didn't get the budget before the house and senate and we waited and supposed to get it early april, but maybe. mayor, listen to this the national debt we all owe stands at more than 16 trillion dollars, so are president obama and speaker of the house, john boehner, both in denial or are they drinking the same stuff? >> i think it's important to recognize is that we've already cut 2.5, 2.7 trillion dollars out of the deficit. if the sequester stays in you've got over 3 1/2 trillion dollars of deficit reduction already so we don't have an immediate crisis in terms of debt. in fact for the next ten years it's in sustainable place.
five years, not be able to get a budget done on time, really tells us that he has no interest in our economy, he has no real interest in straightening out our budget problems. i don't know what his priorities are, but they certainly aren't straightening out the tremendous debt that we've accumulated under his presidency. >> greta: and the senate should note that other presidents should know that other presidents have been late, but this is the first time the president didn't get the...
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what do you think is the long term impact of having done that on our economy and on our standing in the globe? >> i think any way you cut it, the decision to go to war in iraq was a disaster and took our eye off afghanistan and al qaeda. and the human toll was enormous. 4,500 u.s. service members died. 100,000 at least iraqi civilians were killed. the cost estimate is between $1 to $3 trillion depending on what study you look at. it was an enormously costly mistake for our country. i think that the american people lost a lot of faith in their leadership to tell them the truth. to make decisions about war and peace based on facts and not misrepresentations of intelligence. and it hurt our standing around the globe. any way you cut it, this decision was a disaster. >> you work inside the white house. do you think they knew that they didn't have wmd? what do you think is the real reason why we went into iraq? >> that's a great question. something struck me having been in that building is how difficult these choices. are i remember hearing a very senior member of the intelligence committee
what do you think is the long term impact of having done that on our economy and on our standing in the globe? >> i think any way you cut it, the decision to go to war in iraq was a disaster and took our eye off afghanistan and al qaeda. and the human toll was enormous. 4,500 u.s. service members died. 100,000 at least iraqi civilians were killed. the cost estimate is between $1 to $3 trillion depending on what study you look at. it was an enormously costly mistake for our country. i...